Mulilo closes financing for 380 MW Beaufort West solar project in South Africa

Mulilo has reached financial close on the 380 MWDC Beaufort West Solar PV project in South Africa's Western Cape, with 250 MWAC contracted export capacity. The project, expected to generate 818 GWh annually under a PPA with NOA, marks Mulilo's fourth financial close in 2026, bringing its total portfolio to over 2 GW.

Mulilo has reached financial close for the Beaufort West Solar PV project in the Western Cape, its fourth project to reach financial close in 2026, according to an official announcement. The 380 MWDC facility with 250 MWAC contracted export capacity will connect to the Droërivier main transmission substation for integration into the national grid. Once operational, the facility is expected to generate approximately 818 GWh of clean electricity annually under a multi-year power purchase agreement with NOA, supplying commercial and industrial customers across South Africa.

Mulilo is a South African renewable energy developer with shareholders including Copenhagen Infrastructure Partners and Norfund. The Beaufort West project is expected to avoid approximately 860,000 tonnes of CO₂-equivalent emissions annually and generate enough electricity to power approximately 345,000 households. The project follows the Orkney Solar PV project in North West Province and the Middlepunt Solar PV and Mercury BESS projects in the Free State. Mulilo has now exceeded its target of deploying 1 GW of renewable energy projects annually, bringing its total portfolio across operational and construction phases to over 2 GW.

This development matters for South Africa's energy transition, where renewable energy projects are addressing immediate power needs while paving the way for sustainable growth. The Western Cape project represents Mulilo's first in the province.

For the renewable energy industry, the transaction demonstrates continued momentum in South Africa's private PPA market. Stakeholders including commercial and industrial customers, funding partners (Absa, Standard Bank, Investec, Nedbank), and advisory firms stand to benefit from expanded clean power supply. NOA's diversified portfolio now approaches 1.5 GW of generation capacity across owned assets and strategic offtake partnerships.